The second VLCC will be delivered later this month and the remaining two later in the year. Image Credit: ADNOC

Dubai: ADNOC Logistics & Services has taken delivery of the first of four Very Large Crude Carriers (VLCC), as the Abu Dhabi entity continues with an ambitious fleet expansion program.

The vessel operates a dual-fuel engine, which means it can also run on LNG.

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ADNOC L&S has committed around $2 billion to build more environmentally-efficient vessels and has to date reduced the carbon intensity of its owned fleet by more than 20 per cent since 2018. According to Capt. Abdulkareem Al Masabi, CEO of ADNOC L&S, “The addition of Hafeet, the first of four newbuild VLCCs to our expanding ADNOC L&S fleet, will increase our energy transportation capacity in line with our ambitious growth strategy.”

The new vessel, the ‘Hafeet’, stretches to 336 meters and with a deadweight of 300,000 metric tons. It can carry around 2 million barrels of crude per voyage.

The company’s second new-build VLCC will be delivered later this month, with the third and fourth scheduled for arrival in Q3- and Q4-2023 respectively.

The vessels - built by South Korea’s Hanwha Ocean (formerly Daewoo Shipbuilding and Marine Engineering) at its Okpo Shipyard in Geoje Island - are anticipated to trade on the spot market.